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Comet Ridge Ltd ( (AU:COI) ) has provided an update.
Comet Ridge Limited has received approval from the Northern Australia Infrastructure Facility (NAIF) to advance to the Due Diligence stage for debt financing of its Mahalo JV Gas Project. This development aligns with the Federal Government’s Future Gas Strategy, emphasizing the need for more domestic natural gas. While NAIF’s approval marks progress, it does not guarantee financing, and Comet Ridge is working on finalizing a comprehensive funding package to reach a Final Investment Decision by mid-2026.
The most recent analyst rating on (AU:COI) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Comet Ridge Ltd stock, see the AU:COI Stock Forecast page.
More about Comet Ridge Ltd
Comet Ridge Limited (ASX: COI) is an Australian energy company focused on developing natural gas resources for the east coast Australian market. The company has tenement interests and projects in Queensland and New South Wales, including the flagship Mahalo Gas Hub project. Comet Ridge aims to supply natural gas to meet increasing domestic and international demand, emphasizing cleaner energy and manufacturing feedstock.
Average Trading Volume: 519,593
Technical Sentiment Signal: Sell
Current Market Cap: A$131.6M
Find detailed analytics on COI stock on TipRanks’ Stock Analysis page.